Nivaura's flagship platform, Aurora is used by banks, issuers and law firms to create and execute new issue legal documentation, and to efficiently disseminate relevant data to settlement teams, paying agents, securities depositories and stock exchanges as well as other relevant capital markets infrastructure and service providers.
Functionally, users can invite parties to a project, import legal precedents, efficiently input transaction terms into automated termsheets and other relevant legal documents, share draft and final documents with other parties, provide comments, negotiate commercial and legal provisions and sign or approve the documents, all on a dedicated platform.
The platform incorporates open source general-purpose legal mark-up language (GLML), a mark-up language used for legal documentation that is both human-readable and machine-readable and designed for use by lawyers which allows significant efficiency in document drafting
Corona is Nivaura’s comprehensive onboarding application which has been developed to manage dynamic user orchestration and permissioning. Originally built as a core component of the Aurora platform that manages permissioning and access rights within transactions, Corona can be used on a standalone basis as a white labelled tool implemented to streamline and automate the onboarding process.
By consolidating the client’s internal processes, Corona facilitates the creation of dynamic workflows tailored for different user types. Additionally, utilizing general-purpose legal mark-up language (GLML) enables the generation of any necessary documents which are populated with user data provided during onboarding.
The customizability of the application allows it to operate in numerous ways across multiple industries. For example, it can act as an onboarding interface for new clients, a tool for managing ongoing KYC/AML checks, account opening, or an application for managing employee access rights to multiple internal systems and the permissioning within those.
Separate from our Aurora and Corona platforms, Nivaura has a dedicated Innovations team that explores more progressive capital markets solutions, including blockchain and other distributed ledger technologies.
Since 2017, we have helped several issuers and banks execute tokenised securities on a blockchain, settling using tokenised fiat currency (“stable coin”) or native cryptocurrencies (e.g. ether or bitcoin).
Specific examples of our work include creating the world's first fully automated debt issue denominated in a cryptocurrency (ether) and settled on the public blockchain, and working with a leading investment bank to execute a blockchain bond where both securities and cash were tokenized.
Advisory is designed to provide firms a defined-term consulting engagement that leverages our technology, legal and capital markets expertise to identify workflow automation opportunities. It is aimed at helping market incumbents drive forward a policy of “process automation” of complex and highly manual workflows.
The exercise focuses on specific asset classes and involves a deep dive into relevant processes, systems, services and data flows, while keeping stakeholders fully involved. A typical engagement takes between 20 and 40 days, and the output of this work can be used to plan and navigate future direction in the digital investment banking landscape.